Keeping Track ...

June 21, 1999

just say no to inflation

Consumer prices in the United States held steady in May following a major jump in April. Falling energy prices balanced rising food costs to help keep the Consumer Price Index flat last month, the Labor Department reported.

The news set off a buying spree on Wall Street last week as analysts had expected greater signs of inflation. Meanwhile, the US trade deficit narrowed slightly in April to $18.94 billion as US exports rose for the first time in months.